The Las Vegas Sun reports the settlement of an eminent domain action by the city of Henderson. Connor Shine, Henderson to Pay $500,000 to Settle Eminent Domain Suit, Las Vegas Sun, June 5, 2012. Click here.
The taking was of 4.6 acres for a sewer easement, plus a road that would serve M Resorts, and “the stalled Inspirada development.” The city evidently settled because it feared that a trial would result in much higher figures than its offer, which would also require it to pay the owner’s attorney fees in addition to the value of the taken land.
The city offered $883,400, and the owner demanded $7 million. The final settlement figures were: $500,000 paid by the city in addition to its $883,400 offer/deposit, plus another $1,000,000 paid by M Resorts, for a total of $2,483,400.